Blackstone Buys Kolkata's South City Mall for ₹3,250 Crore in City's Largest Real Estate Deal.

Global investment powerhouse Blackstone has made a strategic and significant entry into the Kolkata real estate market with the acquisition of the city's iconic South City Mall. The deal, valued at an astounding ₹3,250 crore, marks the largest real estate transaction in Kolkata's history.

The South City Mall, a landmark shopping destination in the city, boasts an expansive area of 12.5 lakh sq ft, with a gross retail area spanning 6.5 lakh sq ft. The mall has long been a retail powerhouse, generating an impressive average annual turnover of ₹1,800 crore.

South City Projects, the holding company behind the popular mall, officially announced the successful completion of the acquisition by Blackstone on Tuesday. South City Projects is a consortium comprising six prominent business families from Kolkata, collectively bringing over 25 years of collaborative experience in real estate development.

This acquisition by Blackstone underscores the growing interest of international investors in India's burgeoning real estate sector, particularly in key metropolitan areas like Kolkata.